Surfers Paradise couple is accused of spending investor money boasting of their lifestyle on social media

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In the glamorous lives of a multi-million dollar developer couple accused of wasting their investors’ money on lavish holidays and $ 135 tasting menus

  • Couple is accused of using real estate investor money to fund a lavish lifestyle
  • Australian Securities and Investment Commission investigating Ian Chester
  • He is being investigated by more than 100 investors for handling $ 6.5 million
  • Mr. Chester and his partner Sophie regularly bragged about lifestyle on social media

A property developer and his wife, accused of cheating millions of dollars on investors, bragged about their lavish lifestyle on social media.

Surfer’s paradise couple Ian Omar Chester, 39, and Sophie Sylvia Chester, 29, are under investigation by the Australian Securities and Investments Commission.

Mr. Chester, who owns Vested Property Group Pty Ltd, is being investigated by more than 100 investors for his $ 6.5 million handling.

ASIC has accused both Mr Chester and his partner of using real estate investor money to fund their lavish lifestyle.

The couple currently live in a $ 1.47 million home and regularly used social media to showcase their overseas trips, nights in expensive hotels, and fancy cars with personalized license plates.

A property developer and his wife, accused of cheating millions of dollars on investors, bragged about their lavish lifestyle on social media

The couple regularly used social media to showcase their overseas trips, overnight stays in expensive hotels, and fancy cars with personalized license plates

They have since closed their accounts or made them private.

A photo was uploaded in May showing a long Italian antipasto lunch at Raes on Wategos Beach in Byron Bay on the north coast of NSW.

The restaurant’s tasting menus are $ 135 per person.

The couple also posed for a photo at the posh Calile Hotel in Brisbane, where rooms can cost up to $ 750.

The two have posed in front of eye-catching cars in several photos, including BMWs with personalized license plates and a new Mercedes Benz.

Ms. Chester also hosted a lavish 29th birthday celebration where a white limousine drove her to a chartered yacht before sailing around the Gold Coast.

In February, she posted a photo of a glamorous baby shower before the arrival of her newborn baby Sapphire in May.

Posing in a rattan peacock chair, Mrs. Chester was surrounded by friends and family at the pink and white themed party.

The couple also uploaded photos from their 2018 vacation in Venice, Italy.

Mr. Chester ran several housing associations and liquidated 13 of them last month

Mr. Chester ran several housing associations and liquidated 13 of them last month

More than 100 customers invested $ 6.5 million in six of the collapsed businesses with the expectation that their investments would flow into unitary or townhouse projects in Southeast Queensland

More than 100 customers invested $ 6.5 million in six of the collapsed businesses with the expectation that their investments would flow into unitary or townhouse projects in Southeast Queensland

Mr. Chester ran several housing associations and liquidated 13 of them in the past month.

More than 100 customers invested $ 6.5 million in six of the collapsed businesses with the expectation that their investments would flow into unitary or townhouse projects across Southeast Queensland.

ASIC believes that Ms. Chester was also involved in handling investor funds.

Supreme Court Justice Glenn Martin frozen the couple’s assets on July 26th.

They have been temporarily prohibited from sending assets abroad, selling property, or transferring money from their bank accounts.

No criminal charges were brought against her.

Daily Mail Australia contacted ASIC for comment.

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